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mario draghi: thank you. is following the baseline scenario. from that viewpoint, no more, no less. it will take a little longer than our previously forecasted --to get to a level of below 2%. for the time being, the main being --the main thing was to make sure the program and decisions taken in march can be an cemented in the new --can be implemented in the new constellation of much lower interest rate, which clearly, have restricted the eligibility universe. and that is why we tasked the committees. existing projections remain -- are predicated and remain conditional on exceptionally supported financial conditions, which to a large extent, do reflect our monetary policy. therefore, the council tasked the committees -- and let me remind you again that our program is meant to run to the end of march 2017, or beyond, if necessary, and in any case, until the council sees a with its adjustment inflation aim. economists committee of the governing -- the committee of the governing council -- , as iis no question a
mario draghi: thank you. is following the baseline scenario. from that viewpoint, no more, no less. it will take a little longer than our previously forecasted --to get to a level of below 2%. for the time being, the main being --the main thing was to make sure the program and decisions taken in march can be an cemented in the new --can be implemented in the new constellation of much lower interest rate, which clearly, have restricted the eligibility universe. and that is why we tasked the...
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the lumbar can mario draghi do? you can extend the bond buying, but of course he can also cut himself some slack in terms of the ease of buying bonds, buying below the deposit rate, or more than 1/3 of each issue. francine: thank you so much. caroline hyde in frankfurt. mike, i'm looking forward to listening to mario draghi dance around the idea that he is distorting the market. we haven't heard from him all summer. let's see how he answers on brexit. to find out more on how he would answer if you are in charge, let's get to the ceo and founder of -- investment, which manages $4 billion. thank you so much. you're mario draghi, trying to tell the markets everything is fine. we're distorting the markets but we still have tools left. how do you explain that to a market that is jittery, that focus is on the wrong thing, and is sometimes very binary? >> i think the key issue for mario draghi is the economy and inflation. that's what matters to politicians and voters. the key is that 70% of lending in the eurozone is done
the lumbar can mario draghi do? you can extend the bond buying, but of course he can also cut himself some slack in terms of the ease of buying bonds, buying below the deposit rate, or more than 1/3 of each issue. francine: thank you so much. caroline hyde in frankfurt. mike, i'm looking forward to listening to mario draghi dance around the idea that he is distorting the market. we haven't heard from him all summer. let's see how he answers on brexit. to find out more on how he would answer if...
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they did not discuss extending qe mario draghi told us. in the currency markets, the euro was at a two-week high against the dollar ahead of the ecb's meeting. those highs have been extended as you can see the euro-dollar is trailing up today. bond yield, ih a leave you with those. bloomberg markets continues. ♪ it is noon in new york. scarlet: welcome to bloomberg markets. we are covering stories for you from the san francisco to robles and saudi arabia. math: the euro rising after the ecb left rates unchanged. scarlet: gary bettman explains the plans for expansion and the significance of the hockey world cup. in saudi arabia, the world is awaiting what could be the biggest public offering ever at aramco. .
they did not discuss extending qe mario draghi told us. in the currency markets, the euro was at a two-week high against the dollar ahead of the ecb's meeting. those highs have been extended as you can see the euro-dollar is trailing up today. bond yield, ih a leave you with those. bloomberg markets continues. ♪ it is noon in new york. scarlet: welcome to bloomberg markets. we are covering stories for you from the san francisco to robles and saudi arabia. math: the euro rising after the ecb...
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Sep 26, 2016
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mario draghi says the ecb baseline scenario does have downside risks. the applications of low rates must be carefully monitored. he says other policy actors must play their part, finger-pointing at the likes of germany and the governments, who must act to release growth. you can watch this event in its entirety on live go. vonnie: turkey stocks dropped the most since july, moody siding risks due to external financial needs and slowing economic growth. daly, fromis kevin aberdeen asset management. we definitely want to get the turkish lira underperforming and the mexican peso in the elections. to wrap up mario draghi is a speech, we talk about the federal reserve having a major impact. does the ecb decision ever have that kind of impact? kevin: ecb will always be central in terms of how markets react. this that is the biggest and most feared by markets. the ecb is still somewhat constrained in what they can do. the bank of japan is trying to shift policies and influence how the long end of the curve -- try to push a long and yields. ecb is more constrain
mario draghi says the ecb baseline scenario does have downside risks. the applications of low rates must be carefully monitored. he says other policy actors must play their part, finger-pointing at the likes of germany and the governments, who must act to release growth. you can watch this event in its entirety on live go. vonnie: turkey stocks dropped the most since july, moody siding risks due to external financial needs and slowing economic growth. daly, fromis kevin aberdeen asset...
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look at the data yesterday that mario draghi announced for the euro zone. barely in the adjustment at all on growth or inflation. actually even on both sides of debate, so far you see very little reaction to brexit at all. i think my point here would be actually brexit has masked a lot of individual issues that i just mentioned in the euro zone, whether it's portugal, italy, greece or in fact ireland. perhaps we should be looking at in the short-term, far closer rather than brexit. back to you. >> thank you very much for that. live in brat saliva. >>> highlights from opening night. br bronco beating pan thethers onc again: >>> here's a look at today's national forecast. >> good morning. let's take a look at the forecast across the country. it's kind of hard to miss the bull's-eye, isn't it. heavy rain fall possibility, maybe damaging winds, him a. can't rule out tornados either. folks always have a plan of where to go should severe weather come calling and best chance across the corn belt. lovely day for you. very warm for you. seattle and los angeles look
look at the data yesterday that mario draghi announced for the euro zone. barely in the adjustment at all on growth or inflation. actually even on both sides of debate, so far you see very little reaction to brexit at all. i think my point here would be actually brexit has masked a lot of individual issues that i just mentioned in the euro zone, whether it's portugal, italy, greece or in fact ireland. perhaps we should be looking at in the short-term, far closer rather than brexit. back to you....
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waiting for some indication from mario draghi, what he can do. crude, 46.42. >> apple has announced an update to the iphone and apple watch. camera upgrades, a faster processor, longer battery life, and new water resistant design. it has ditched the headphone socket for other features. it has been called the best iphone he ever created, but others are not so enthusiastic. the cost of borrowing yuan in hong kong surged a seven-month high. speculation that china's central bank is intervening to discard -- discourage a harris effect. post-brexit's rate climbed to 5.54 percent. japan's economy showing signs of life. in the second% quarter, more than the governments reading of 0.2%. this gives the boj something to think about. at the meeting, policymakers will release their review of potential strategy and decide whether to increase stimulus. the u.k. housing market in august after the shocking confidence from the brexit book. gaugeuse price gaze -- rose as opposed to july as more agents reported depreciated prices. negative,ned maintaining them. john
waiting for some indication from mario draghi, what he can do. crude, 46.42. >> apple has announced an update to the iphone and apple watch. camera upgrades, a faster processor, longer battery life, and new water resistant design. it has ditched the headphone socket for other features. it has been called the best iphone he ever created, but others are not so enthusiastic. the cost of borrowing yuan in hong kong surged a seven-month high. speculation that china's central bank is...
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anna: mario draghi meets german lawmakers in berlin today. he is set to reiterate his message that governments must increase fiscal support to boost demand. manus: joining us to discuss this, it is caroline hyde joining us from berlin. a very good day to you. germany,ghi goes to i'm fascinated to know what kind of reception he will get? the finance minister almost chooses him of being behind the rise of alternative political parties? caroline: the afd, he says wolfgang almost laying it at mario draghi's door, saying very low interest rates have been a push forward for populism. i think we have nine hours time. unfortunately, it is a closed-door meeting. between mario draghi and the german lawmakers, but gloves will come off. he has 90 minutes of discussion, nobody knows. specificallyold us that we will put a range of political questions, key to them? we know the germans are one of the most opposed to mario draghi' negative interest ratess, bond buying, perhaps they feel that italy, spain, these countries that run up to much debt are able to g
anna: mario draghi meets german lawmakers in berlin today. he is set to reiterate his message that governments must increase fiscal support to boost demand. manus: joining us to discuss this, it is caroline hyde joining us from berlin. a very good day to you. germany,ghi goes to i'm fascinated to know what kind of reception he will get? the finance minister almost chooses him of being behind the rise of alternative political parties? caroline: the afd, he says wolfgang almost laying it at mario...
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day, mario draghi's big what might the ecb resident announce. lucky number seven for apple, the iphone reviving slower sales, but where has the innovation gone? and china's cushioned by a weaken yen, surging to a seven-month high. >> welcome to countdown. manus: great to have you on the program. nejra: great to be here. let us talk about the big themes. one of them is do not mess with my currency. the chinese of course, this is what we have for you. now are-yuan.in breach of this level. and the pc of the said this is it. back off on the currency. they ratchet up the price of borrowing, up by 3.8%. since the highest february. these moments of breach and dollar-yuan invoke the invective from the pcbo, ratcheting up. that is putting the cap. that is the message from the g-20.the devaluation , or let us say the depreciation of the currency. exports up for the third straight month, imports are searching. yuan, do not mess for my currency. nejra: is that a look at the risk radar. see what we are watching this morning. starting of course with global st
day, mario draghi's big what might the ecb resident announce. lucky number seven for apple, the iphone reviving slower sales, but where has the innovation gone? and china's cushioned by a weaken yen, surging to a seven-month high. >> welcome to countdown. manus: great to have you on the program. nejra: great to be here. let us talk about the big themes. one of them is do not mess with my currency. the chinese of course, this is what we have for you. now are-yuan.in breach of this level....
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let's see what mario draghi. never mind mario. yousef, angie. .ousef: thanks, manus plenty of creativity coming from central banks, that's for sure. oil production in iran continues to inch towards pre-sanction levels, and the state oil company says that the 4 billion reachedarget could be in two or three months. joining us is sam welcome. sam, could this mean that a deal to freeze output is on to -- is on the cards, maybe not? yes? reporter: we have to because just when talking about this oil freeze deal. it has been talked up and talked up. we are perhaps getting closer iran iss news that getting closer to pre-sections output. that said, we actually interviewed the same official this morning in singapore, and he said we are not ready to discuss it yet, we have to get that production level before we start discussing it, and they are not going to have that done in time for out years. he said the target is just over 4 million barrels a day. it is at about 3.8 million at the moment. he also said today that prices $40 and $50 a barre
let's see what mario draghi. never mind mario. yousef, angie. .ousef: thanks, manus plenty of creativity coming from central banks, that's for sure. oil production in iran continues to inch towards pre-sanction levels, and the state oil company says that the 4 billion reachedarget could be in two or three months. joining us is sam welcome. sam, could this mean that a deal to freeze output is on to -- is on the cards, maybe not? yes? reporter: we have to because just when talking about this oil...
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. >>> mario draghi takes the stage amid speculation. he will have to expand the qe program as the pool of eligible assets dwindles. >> good morning, everyone. you're watching "street signs." we're roughly one hour into the european trading session. adding on 0.2%. doesn't look like much, but sediment is pretty positive going into ecb meeting. not expecting mario draghi to announce extension of qe yet. see strengthening of euro. void by data points coming out of asia. export and import numbers from china. all that mna activity with micro focus leading the charge. have a rook at the marts one by one. ftse 100 up half a percent. once again this is primarily because of 22% gain. xetra dax up 0.1 pkts. cac 40 up by a similar percentage amount. >>> shares in micro focus leading the way today. they are in fact soaring 21%. after hue let enterprise announced merger. the deal sl around $8.8 billion. >> hue let pack card ceo megamitt man will be talking to u.s. colleague. a surprising deal. so many uk companies taking over technology assets. it's
. >>> mario draghi takes the stage amid speculation. he will have to expand the qe program as the pool of eligible assets dwindles. >> good morning, everyone. you're watching "street signs." we're roughly one hour into the european trading session. adding on 0.2%. doesn't look like much, but sediment is pretty positive going into ecb meeting. not expecting mario draghi to announce extension of qe yet. see strengthening of euro. void by data points coming out of asia....
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european central bank, the boss, mario draghi? reporter: sometimes the impossible happens. opec has agreed to cut oil output for the first time since 2008, albeit by 750,000 barrels a day. the agreement came as low oil prices forced saudi arabia to ease its stance on its archrival, iran. opec will cut total output from 33 million barrels to 32.5 million per day. they will agree at the next corporal meeting in november. and non-opec countries like russia will be invited to cut production. so it just stands [indiscernible] what are the markets making out of opec's agreement to cut production? reporter: the understanding between opec members had an immediate effect with the brent surging over 5%, but these agreements fell short for some analysts. goldman sachs/the fourth quarter oil price by $7, justifying the amount of crude surplus could outweigh [indiscernible] from a deal by producers to limit output. further experts are bullish. as we wait and see what happens, energy sectors surged more than 3%, up 14% so far this year. fanny: janet yellen is talking about banking regula
european central bank, the boss, mario draghi? reporter: sometimes the impossible happens. opec has agreed to cut oil output for the first time since 2008, albeit by 750,000 barrels a day. the agreement came as low oil prices forced saudi arabia to ease its stance on its archrival, iran. opec will cut total output from 33 million barrels to 32.5 million per day. they will agree at the next corporal meeting in november. and non-opec countries like russia will be invited to cut production. so it...
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daniel: mario draghi is the jekyll and hyde of this whole situation. the european central bank is holding interest rates at record lows. it is part of a controversial strategy. the hope of mario draghi, there he is, the president of the eurozone central bank, is encouraging banks to lend, people and businesses to spend, and boost inflation which is vital to economic growth. here's is what he had to say. mario draghi: based on our regular economic and monetary values, we decided to keep the interest rates unchanged. we continue to expected to remain at present or lower levels for an extended time. daniel: his critics say he is on the road to disaster. it is a case of good draghi, bad druggie. let's meet the good wife. southern countries like greece and spain love him. he wants weaker economies to get back in shape. low interest rates mean they can borrow cheaply to spend on building or creating a business, for example. also, because he encourages spending, the punishing belt-tightening measures in southern europe are loosened, but here comes bad druggie
daniel: mario draghi is the jekyll and hyde of this whole situation. the european central bank is holding interest rates at record lows. it is part of a controversial strategy. the hope of mario draghi, there he is, the president of the eurozone central bank, is encouraging banks to lend, people and businesses to spend, and boost inflation which is vital to economic growth. here's is what he had to say. mario draghi: based on our regular economic and monetary values, we decided to keep the...
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anna: that is mario draghi talking to the european parliament. we are joined by s&p chief global economist paul sh eard. let's talk about the european economy. this shows the deutsche bank credit swap selloff. this is what we have seen over recent days, contracts reaching the highest since july. little nervousness about the health of the banking sector in europe, so many years after the financial crisis. this is not good for the european growth story. paul: certainly, europe needs a strong and healthy banking system. it doesn't have the reliance on capital markets you do in the u.s. and u.k. to a certain extent. yes, it does need a strong banking system. the ecb is in the position of implementing negative interest-rate policy, but that could be squeezing bank profitability. the supervisor of the european banking systems. have regulations in general clamped down too hard on banks post-crisis for reasons we well know and understand the echo have a clamped down so hard that it has meant that banks have stopped lending or had an excuse not to lend? i
anna: that is mario draghi talking to the european parliament. we are joined by s&p chief global economist paul sh eard. let's talk about the european economy. this shows the deutsche bank credit swap selloff. this is what we have seen over recent days, contracts reaching the highest since july. little nervousness about the health of the banking sector in europe, so many years after the financial crisis. this is not good for the european growth story. paul: certainly, europe needs a strong...
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mario draghi says low interest rates are not to blame for their banking woes. those stories coming up. this is bloomberg. ♪ guy: let's get your bloomberg is this flash. here is shery ahn stop >> -- shery ahn. abouts company will cut 2.4% of its workforce. they said at the movies one of several actions to reduce operating costs. the company added that the job cuts and the costs associated do not change the financial outlook for the year. credits recent barclays are in separate edelman talks with the u.s. justice department over the toxic mortgage bonds that settle the financial crisis. they said the deal could be announced within several weeks. the u.s. has only asked deutsche bank for $14 million. >> this is capital management has agreed to enter into a deferred prosecution agreement. according to a person familiar with the matter, the admission of guilt is part of a settlement with the doj and ftc. >> that is your bloomberg business flash. guy: will get the inflation data out of germany later this it's having some effect on what is happening on the cpi numbe
mario draghi says low interest rates are not to blame for their banking woes. those stories coming up. this is bloomberg. ♪ guy: let's get your bloomberg is this flash. here is shery ahn stop >> -- shery ahn. abouts company will cut 2.4% of its workforce. they said at the movies one of several actions to reduce operating costs. the company added that the job cuts and the costs associated do not change the financial outlook for the year. credits recent barclays are in separate edelman...
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as rick mentioned, mario draghi is speaking right now. our guest host this morning is former dallas fed president richard fisher. richard, it'll take a few minutes to get the first of his real headlines that come out here. what do you expect to hear from him? what are the key points aside from the equities question you're looking for? >> i think the key question is what will they do with their quantitative easing program which expires in march 2017? >> the wholed idea this is setp to end in march. >> you have to renew these things. there are few finished bonds left. few german bonds left. how's this going to be allocated? one of the amazing things in the press this morning is italy's about to issue a 50-year bond. and they also have some short-term paper at negative rates. now, who with all due respect to italy, who would lend that government money and expect to get less back? so they've driven this thing as far as possible. they're back to unemployment levels they were at just before the euro was created. i guess you can take some credit
as rick mentioned, mario draghi is speaking right now. our guest host this morning is former dallas fed president richard fisher. richard, it'll take a few minutes to get the first of his real headlines that come out here. what do you expect to hear from him? what are the key points aside from the equities question you're looking for? >> i think the key question is what will they do with their quantitative easing program which expires in march 2017? >> the wholed idea this is setp...
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can mario draghi change that dialogue? draghi will take stage in frankfurt today. our very own caroline hyde is there for us. caroline: manus, you put it so well. you were just talking about the vstoxx there. there is no fear out there at the moment. about 23% below the average. ten meetings, we thought a policy change -- we saw a policy change. within the last seven weeks, we have seen 10 year debt in germany, the bund move in a trading range of 1%, just 10 basis points, the lest we have seen since 1991. is this the calm before the storm? l we see changes in the way in which they buy bonds? manus: the question is, will they lower the rate at which they can buy bonds in the market? what do you think from the guests you have spoken with? >> i think they will hold off. overall, the market is still anticipating 1.5% growth for the eurozone this year. what is the push? why not wait until after the fed goes in december? maybe that is the time to start adding to stimulus, manus. ♪ silence.breaks his his hand may be forced today. and aeuropean markets five-month high ah
can mario draghi change that dialogue? draghi will take stage in frankfurt today. our very own caroline hyde is there for us. caroline: manus, you put it so well. you were just talking about the vstoxx there. there is no fear out there at the moment. about 23% below the average. ten meetings, we thought a policy change -- we saw a policy change. within the last seven weeks, we have seen 10 year debt in germany, the bund move in a trading range of 1%, just 10 basis points, the lest we have seen...
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mario draghi is testifying today. he invited scrutiny of ecb policies saying the central bank welcomes it. he is expected to face criticism from german lawmakers who argue that loose monetary policy is hurting savers and weakening the banking sector. we saw initial comments from mario draghi. how heated will it get for him? >> i think those lawmakers he'll meet with will have a different idea about what to do with interest rates than he does. the general understanding among german lawmakers is that the track record of the ecb, what the ecb has done, quantitative easing, buying huge amounts of bonds in the markets, interest rates close to zero is doing more harm than good. is there economic growth? there is not economic growth in countries, or not enough in a lot of countries in the eurozone. general understanding in berlin is this policy of low or negative interest rates has to find an end. only yesterday it was said what is needed is higher interest rates, structural reforms. mario draghi has a different message. he
mario draghi is testifying today. he invited scrutiny of ecb policies saying the central bank welcomes it. he is expected to face criticism from german lawmakers who argue that loose monetary policy is hurting savers and weakening the banking sector. we saw initial comments from mario draghi. how heated will it get for him? >> i think those lawmakers he'll meet with will have a different idea about what to do with interest rates than he does. the general understanding among german...
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mario draghi played down the need to commit to new stimulus for now. is surging after the energy information administration said crude inventories fell 14.5 million barrels last week, the biggest drop since january, 1999. for more on oil, gold, and other global comedies, we are joined by chris gaffney, who says now is a good time to buy commodities. andme ask about something can you send -- slower global growth has kept a lid on commodity prices. in light of what we heard from draghi this morning, what makes you optimistic estimate -- optimistic? mr. gaffney: the emerging middle class in china and india will create demand. demographics show a majority of those people are younger consumers. on the consumption side, i think that is going to drive demand on commodities, and in more particular, diets are changing. as they get more disposable income, they change toward a protein and sweeter diet. india is the number one importer of sugar. we think that is going to drive the demand side. also -- david: go ahead. mr. gaffney: central banks have started a poli
mario draghi played down the need to commit to new stimulus for now. is surging after the energy information administration said crude inventories fell 14.5 million barrels last week, the biggest drop since january, 1999. for more on oil, gold, and other global comedies, we are joined by chris gaffney, who says now is a good time to buy commodities. andme ask about something can you send -- slower global growth has kept a lid on commodity prices. in light of what we heard from draghi this...
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anna: mario draghi. by the global market strategist of j.p. morgan. he talks about systemic risk and central banks need to act if they see systemic risk. do you see systemic risk at the moment? there is a healthy debate about how long the bond rally can continue. guest: there are areas of systemic risk. but the valuations of bonds right now are pretty high. 75% yielding below 1% in the global government bond based. that is high valuations. with that comes the risk of capital loss. we saw that in may of last year. but i think was important for mario draghi to assess is the risk in the economy. is soe the ecb which supportive pushing out money, offering credit, but making sure that there is still some credit standard and that we are not exacerbating the italian banking situation. those are the risks that should be focused on getting work at of the system that would help the general eurozone growth story. anna: are you impressed with the cspp and its ability to cheapen money for corporate? -- for corporate? s? guest: high-yield has come down. buying asse
anna: mario draghi. by the global market strategist of j.p. morgan. he talks about systemic risk and central banks need to act if they see systemic risk. do you see systemic risk at the moment? there is a healthy debate about how long the bond rally can continue. guest: there are areas of systemic risk. but the valuations of bonds right now are pretty high. 75% yielding below 1% in the global government bond based. that is high valuations. with that comes the risk of capital loss. we saw that...
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here in berlin, mario draghi gets a drilling. german lawmakers questioned the ecb president in the rare chance to press him on controversially low interest rate policies. the closed session is due to last about 90 minutes. our germany editor joins us with the details. there have been very outspoken critics to german lawmakers, and it looks as though we could get tough questions. but it's not going to be a red carpet welcoming for the ecb president. >> well, i think it will be a very civil and civilized welcome. the thing is, the last time he spoke to them was four years ago, to the bundestag here in berlin. it's been discontent, dissatisfaction at what the ecb has been doing. it's been brewing for that whole time. last time, that was right around the time of the outright monetary transactions claim, which was also very controversial, highly controversial, and now of course it is about the superlow rates that have also drawn a lot of criticism. caroline: there is such an extent that we have had wolfgang schaeuble almost laying dra
here in berlin, mario draghi gets a drilling. german lawmakers questioned the ecb president in the rare chance to press him on controversially low interest rate policies. the closed session is due to last about 90 minutes. our germany editor joins us with the details. there have been very outspoken critics to german lawmakers, and it looks as though we could get tough questions. but it's not going to be a red carpet welcoming for the ecb president. >> well, i think it will be a very civil...
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mario draghi is doing a good job at not sending any singles that signals. he is playing close to this just. -- his chest. they are still pricing in an extension and a cut. no reason to be concerned about what is happening in september. toit set up committees address the scarcity of bonds that the ecb can buy. does this tell us that investors are addicted to central-bank stimulus? >> we know that investors love stimulus. it is the candy they cannot get enough of. they like certainty. i think mario draghi's term that they will study options is incredibly wavering. mark is around the corner when the bond buying program stops, and they are saying no way, he will have to do something else. words matter. notought his wavering was the right across. it is clear they will do some sort of unstated easing. anytime you say gdp growth is 1.6%, you cannot say wow. based on inflation, you cannot say wow. based on volatility, you cannot say wow. >> were they right? ofsix months to september 2017, basically change the modality of the bond buying program. we know that the ce
mario draghi is doing a good job at not sending any singles that signals. he is playing close to this just. -- his chest. they are still pricing in an extension and a cut. no reason to be concerned about what is happening in september. toit set up committees address the scarcity of bonds that the ecb can buy. does this tell us that investors are addicted to central-bank stimulus? >> we know that investors love stimulus. it is the candy they cannot get enough of. they like certainty. i...
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Sep 29, 2016
09/16
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that's the view of mario draghi who was forced to defend the bank's low rate policy among criticism that it was adding pain to germany's largest lender. he also responded to a question on whether germany should use some of its additional fiscal headroom. >> i would like to ask you a question whether you have been tackling also the question of whether germany should spend more money, use as we call it the fiscal space, and how this discussion went with the lawmakers. >> i did say in the last press conference that countries that have fiscal space should use it. germany does have fiscal space. now, however we have to be nuanced about this. germany is also close to full employment. so, if there is fiscal space for some fiscal expansion it should be carefully targeted. i never argued for irresponsible fiscal expansion. this would not feed with the view of the world that we have at the ecb, would not feed with the interpretation of the growth rules, and so that is what we meant by that. >>> looking at breaking news from the other big german lender, it looks like they're warning of a profit in
that's the view of mario draghi who was forced to defend the bank's low rate policy among criticism that it was adding pain to germany's largest lender. he also responded to a question on whether germany should use some of its additional fiscal headroom. >> i would like to ask you a question whether you have been tackling also the question of whether germany should spend more money, use as we call it the fiscal space, and how this discussion went with the lawmakers. >> i did say in...
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Sep 5, 2016
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maybe mario draghi will do something, maybe he won't. how does it affect the dollar yen? kit: the dollar-yen is the dollar against the yen. the closest correlation is at the moment. provided those have adam out to ian and in this painfully slow trajectory,n upward it will go higher. if dollar-yen those slow, goes 162 1.2%, probably the yen will break 100 and then some if the u.s. euro goes to 2% next, to dollar-yen would go up 200 20. i suspect the marginally higher. the yen is marginally high. mark: that is nothing in the market, is it? kit: absolutely. in that sense, the big move from 120 back down to 100, that is over. that mirrors the following u.s. yields in japan. ,e have room for stability yeah. a few shocks and bumps. monday's the and not between now and christmas i expect to be one figure higher. mark: global strategist. theext, doubt about some of promises made by brexit campaigners. we will analyze the deal the u.k. will seek. pmiring you the key august services number. this is a bloomberg. music don't -- ♪ hey how's it going, hotcakes? hotcakes. this place h
maybe mario draghi will do something, maybe he won't. how does it affect the dollar yen? kit: the dollar-yen is the dollar against the yen. the closest correlation is at the moment. provided those have adam out to ian and in this painfully slow trajectory,n upward it will go higher. if dollar-yen those slow, goes 162 1.2%, probably the yen will break 100 and then some if the u.s. euro goes to 2% next, to dollar-yen would go up 200 20. i suspect the marginally higher. the yen is marginally high....
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Sep 9, 2016
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stood on, mario draghi stimulus. and eric rosengren said waiting too long to raise rates could overheat the economy. joining me is the vice-chairman of equities with $154 billion under management. europe's fear index, the volatility gauge. this is a one-year chart, patrick. when you look at the year, that is not significant. what is significant is volatility at one year lows. it has been muted across asset classes. -- is todayn the the beginning of the return of volatility, and if so, what does it mean? >> we are coming to the end of the summer anyway. lowvolatility, we have seen volatility for a couple of months. the industries are at all time highs. maybe volatility picks up a little here because of what draghi said yesterday. announcementsese before around the pickups in volatility around fed statements. only then do they settle down again. i am still optimistic about equities, generally. they beat the volatility picks up a little. mark: we have seen this great rotation in the third quarter defensivecal to globall
stood on, mario draghi stimulus. and eric rosengren said waiting too long to raise rates could overheat the economy. joining me is the vice-chairman of equities with $154 billion under management. europe's fear index, the volatility gauge. this is a one-year chart, patrick. when you look at the year, that is not significant. what is significant is volatility at one year lows. it has been muted across asset classes. -- is todayn the the beginning of the return of volatility, and if so, what does...
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Sep 8, 2016
09/16
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we are waiting to hear if mario draghi will extend the bond buying program set to expire next month. the deadline is coming up very soon. have they achieved what they want with respect to inflation or growth, certainly not. brexit was one of the elements and it has left a number of stains on what ecb were going to do. julyhappened in june or even before brexit, the ecb was pretty much ready and confident with respect to what they have assimilated with quantitative easing. they were going to upgrade the forecast. with her exit the data is not giving them that much and perhaps now is the time for them to come back and say are we going to do more quantitative easing, reduce the deposit rate, cut the interest rate or helicopter money. i don't think any of these extreme measures will be on the table today. >> the latest iphone has been given a muted reception by tech experts and apple fans. apple needs to spark fresh consumer demand. the new model has an improved camera. it is water resistant. the headphone jack has disappeared to favor wireless earphones. this comes at an important junct
we are waiting to hear if mario draghi will extend the bond buying program set to expire next month. the deadline is coming up very soon. have they achieved what they want with respect to inflation or growth, certainly not. brexit was one of the elements and it has left a number of stains on what ecb were going to do. julyhappened in june or even before brexit, the ecb was pretty much ready and confident with respect to what they have assimilated with quantitative easing. they were going to...
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Sep 9, 2016
09/16
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mario draghi is saying we may not need extra stimulus for the moment. that seems to be making the fed's job easier because it does not put so much pressure on dollar. ellen: i think that is the way that markets read it as well. the ecb has not going down the further path of easing, so it takes pressure off the fed. we saw that in pricing yesterday. mario draghi and crew want to be data dependent just like the fed, and they clearly send a message of this does not mean more easing is not coming, but we do not think that today's meeting was appropriate. francine: it is all very well and good to be data dependent, but what data are they actually looking at? also going to is have to downgrade their forecast at the september meeting, just as a simple mark to market exercise. by the december meeting, you are meeting expectations, so i do not know if there is another message except that, like other central banks, like all central banks practically, they are overly optimistic coming into the year, and the ecb revises lower throughout just like the fed. by the en
mario draghi is saying we may not need extra stimulus for the moment. that seems to be making the fed's job easier because it does not put so much pressure on dollar. ellen: i think that is the way that markets read it as well. the ecb has not going down the further path of easing, so it takes pressure off the fed. we saw that in pricing yesterday. mario draghi and crew want to be data dependent just like the fed, and they clearly send a message of this does not mean more easing is not coming,...
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Sep 9, 2016
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manus: coming up, mario draghi says more time, rather than more stimulus, is what europe needs. nejra: at 6:40 we are live in milan as monte pasche ousts its ceo. manus: the ceo of aviva tells bloomberg what he does not think the brexit. london from being one of the major financial hubs. nejra: we are bringing you all the news, analysis, and conversations about britain leaving the eu. that is that 9:30. this is bloomberg. ♪ manus: let's look at the hang seng. 24,186.ending up, 6:21 here in london. nejra: mario draghi says officials will study options to ensure the quantitive easing program does not run out of bonds to buy. >> the governing council tasked the relative committees to evaluate the options to ensure as most implementation of our purchase problem. the risk to the euro growth outlook remains tilted to the downside. this assessment is broadly reflected in the september 2016 ecb staff projections for the euro area, which forced the annual real gdp increasing by in 2016 016, by 1.6% and by 1.6% in 2018. we discussed the broad macroeconomic projections, but we did not di
manus: coming up, mario draghi says more time, rather than more stimulus, is what europe needs. nejra: at 6:40 we are live in milan as monte pasche ousts its ceo. manus: the ceo of aviva tells bloomberg what he does not think the brexit. london from being one of the major financial hubs. nejra: we are bringing you all the news, analysis, and conversations about britain leaving the eu. that is that 9:30. this is bloomberg. ♪ manus: let's look at the hang seng. 24,186.ending up, 6:21 here in...
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Sep 20, 2016
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how much do you think mario draghi would like the fed to hike. that would have implications if bond yields go higher. if that lifted bond yields in europe, that might put more bonds and his pile as eligible to purchase. will that be a priority for him? >> maybe not a priority but he would have a measured interest. it is a classic case of an intention -- unintended consequences. it would be hugely significant. if the fed were to significantly if wecurve to steepen, get u.s. tends up to 180 or 190 in the next few weeks, that would drag bond it yields higher in europe and that would help out the scarcity issue which is a concern for the ecb. without changing structural elements within their own bond buying program, they will run into bond buying constraints sooner rather than later. that does make that debate about bond buying ecb's program can continue as it stands. anna: stay with us, jeremy stretch. reality nigeria's crude with an economy battered by low oil prices, we get a rate decision from nigeria. this is bloomberg. ♪ anna: welcome back. t
how much do you think mario draghi would like the fed to hike. that would have implications if bond yields go higher. if that lifted bond yields in europe, that might put more bonds and his pile as eligible to purchase. will that be a priority for him? >> maybe not a priority but he would have a measured interest. it is a classic case of an intention -- unintended consequences. it would be hugely significant. if the fed were to significantly if wecurve to steepen, get u.s. tends up to 180...
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Sep 28, 2016
09/16
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those were comments from mario draghi. this is bloomberg. ♪ >> this is the european close on bloomberg markets. nie: coming up on the european close, where headed back to the bloomberg markets most influential stage in the financial world. we will be focusing on m&a post brexit. i now, tom keene is hosting a panel of the future of emerging markets and investing. you can watch all of this live on the bloomberg lied go, streaming all day at bloomberg.com. for those of you wore not from new york, you should recognize that we have a very proactive -- vonnie: live from london and new york, i am vonnie quinn. cehic.and i am nejra time to look at the biggest stories on the news right now. touch a has agreed to buy independent british delivery service u.k. mail group. the price is $316 million, not including debt. a will boost its presence in market dominated by royal mail. the pair to british airways has agreed to set up a joint business with its largest shareholder qatar airways. the two will share revenue and costs on service
those were comments from mario draghi. this is bloomberg. ♪ >> this is the european close on bloomberg markets. nie: coming up on the european close, where headed back to the bloomberg markets most influential stage in the financial world. we will be focusing on m&a post brexit. i now, tom keene is hosting a panel of the future of emerging markets and investing. you can watch all of this live on the bloomberg lied go, streaming all day at bloomberg.com. for those of you wore not...
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Sep 9, 2016
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if fuse is lit by mario draghi. the story is what is happening looksan it and if the doj to get a steeper curve to help financials. let's go to some of the movers with abigail doolittle. nasdaq: lots of big movers. we're looking at shares of a network company having the best days since early march since they reported record first quarter revenues. orderuided the second above estimates. william blair has upgraded the saying it isisar too good to ignore. average see -- averages are 10%. ,n the open, l pollo loco trading higher on news the stock will be added to the small index on september 12. it will replace american science. the reason this causes stock to addedher, with stocks are to these indices according to paul sweeney, it forces passive index managers to buy shares. it is also a coming-of-age or status symbol. on topoil as a big week of a possible production freeze and u.s. inventory drop. markets are suspecting an inventory drop might be a one-off. the question for investors is where oil is headed over the lo
if fuse is lit by mario draghi. the story is what is happening looksan it and if the doj to get a steeper curve to help financials. let's go to some of the movers with abigail doolittle. nasdaq: lots of big movers. we're looking at shares of a network company having the best days since early march since they reported record first quarter revenues. orderuided the second above estimates. william blair has upgraded the saying it isisar too good to ignore. average see -- averages are 10%. ,n the...
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Sep 9, 2016
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in other words, the ecb, when mario draghi came out this week and said, we are not discussing whether we are going to keep going beyond next year, we are just going to try to implement things as best we can, was basically taken by the markets as an admission that it was not sure if they could effectively carry out monetary policy as they set out already. and number two, that they were not committing to any additional monetary stimulus. this builds on the bank of japan making similar moves. had anll street journal" article about how japan may run out of bonds to buy within the next 18 months. bondsb may run out of much sooner than that. these are seriously limited plans. julia: this is a narrative we have heard for quite a long time from some corners of the market. quantitative easing was not going to be effective. effectiveness had sort of run its course. is it because druggie himself seems to be admitting that? that is thek number-one thing. central bankers have ratcheted back the rhetoric, they are not therethere just saying is plenty of ammunition. they are looking and discussing a
in other words, the ecb, when mario draghi came out this week and said, we are not discussing whether we are going to keep going beyond next year, we are just going to try to implement things as best we can, was basically taken by the markets as an admission that it was not sure if they could effectively carry out monetary policy as they set out already. and number two, that they were not committing to any additional monetary stimulus. this builds on the bank of japan making similar moves. had...
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Sep 8, 2016
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scarlet: coming up, mario draghi makes no change, qe program. what might hold the euro? ♪ matt: breaking news on dell. the company with 140,000 employees, the company will cut looking to save $1.7 in 18 months. admin jobs, and marketing jobs. drop and a lot of people are speculating. >> we expect this as well. michael hinted as much and any kind of big technology merger like this one usually results in job loss is. it's talk about the currency . much of the focus on the ecb decision after mario draghi left rates and the qe program on hold. way off the levels of the session. turning us now for more is our bloomberg specialist on bloomberg first word. it seems that my draghi was trying to avoid answering every question. telling interesting story of another meets the facts. matt: we're not anywhere near our targets. i will not already new stimulus or ease anymore because current policies are working fine. >> the mechanism is beautiful. this is personal credibility or --it clear >> definitely one of the most credible, his ear and 10 accra .s unquestionable you will never g
scarlet: coming up, mario draghi makes no change, qe program. what might hold the euro? ♪ matt: breaking news on dell. the company with 140,000 employees, the company will cut looking to save $1.7 in 18 months. admin jobs, and marketing jobs. drop and a lot of people are speculating. >> we expect this as well. michael hinted as much and any kind of big technology merger like this one usually results in job loss is. it's talk about the currency . much of the focus on the ecb decision...
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Sep 12, 2016
09/16
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michael: it was interesting that mario draghi of adopted the same will dos the boj -- we a review and come back to you. and the bank of japan does the same thing though they are one step ahead in the process. you also have to remember that in contrast with the fed, the ecb and the boj have made it part of their policy to get the right market impact as a price the market. both central banks have done that and perhaps that will change. with the ecbsaw that mario draghi does not think that his policy will have much impact on the banks. guy: caroline? technical issues. we will fix that and come back. it has been one of those days where technical factors upset us. michael, let us turn our attention to china. this is the interbank lending rates. it is starting to get more elevated. do you think that this green line, 6.7 is sick never prevent -- is significant to the chinese? michael: does china still need a weaker renminbi? yes. another 5%-10% weaker however one thing we would know is that markets, as they did appear over much of the summer, look to be much more chineset to balance currency
michael: it was interesting that mario draghi of adopted the same will dos the boj -- we a review and come back to you. and the bank of japan does the same thing though they are one step ahead in the process. you also have to remember that in contrast with the fed, the ecb and the boj have made it part of their policy to get the right market impact as a price the market. both central banks have done that and perhaps that will change. with the ecbsaw that mario draghi does not think that his...
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Sep 29, 2016
09/16
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mario draghi really pushed back, he almost took offense. tom: this is must watch for everyone in global markets -- in global wall street markets. what a perfect timing with the banking turmoil. here is taylor riggs. taylor: india attacked terrorist camps overnight inflicting heavy casualties on militants who had been assembled to infiltrate india. are over ands india says no more are planned, that it was an intelligent -- that -- that it was in retaliation for an attack on indian forces on the border. congress has passed a spending bill that averts a u.s. government shutdown. the measure will pay for flood damage in several states. democrats agreed to vote for the measure up to -- after the was an agreement to pay for flint michigan's contaminated water crisis. it may turn out to be a hard brexit for the u.k. eu governments are refusing to get the u.k. any leeway on the link between immigration and trade. ireland's finance minister tells bloomberg the u.k. cannot have the advantages of the new without carrying out the obligations. global ne
mario draghi really pushed back, he almost took offense. tom: this is must watch for everyone in global markets -- in global wall street markets. what a perfect timing with the banking turmoil. here is taylor riggs. taylor: india attacked terrorist camps overnight inflicting heavy casualties on militants who had been assembled to infiltrate india. are over ands india says no more are planned, that it was an intelligent -- that -- that it was in retaliation for an attack on indian forces on the...
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Sep 9, 2016
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mario draghi says officials will study options to ensure the quantitative easing program doesn't run out of hans to buy as he played down the need to commit to new stimulus for now. taskedgoverning council the relevant committees to to ensure a options smooth implementation of our purchase program. the risk to the euro area growth outlook remains still to the downside. this assessment is probably reflected in the september 2016 ecb staff macroeconomic projections for the euro area which foresee annual real gdp 1.6%asing my 1.7% in 2016, in 2017, and 1.6% in 2018. we discussed the assessments of the economy. we didn't discuss anything else. changestime being, the are not substantial as to to act.a decision the committees have full mandate. they will look at all the options that might be used to redesign the program. guy: joining us now to talk about what mario draghi said yesterday is hsbc's head of asset allocation. good morning. nice to see you. i'm going to quote a note that a couple economist put out. it is a note that came out from karen ward, talking about the fact -- that seque
mario draghi says officials will study options to ensure the quantitative easing program doesn't run out of hans to buy as he played down the need to commit to new stimulus for now. taskedgoverning council the relevant committees to to ensure a options smooth implementation of our purchase program. the risk to the euro area growth outlook remains still to the downside. this assessment is probably reflected in the september 2016 ecb staff macroeconomic projections for the euro area which foresee...
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Sep 29, 2016
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mario draghi says a year on from the cheating scandal that rocked the auto industry. good morning mrs. count in prime minister. manus cranny. >> they are planning to cut their workforce by 1000 employees. >> 500 layoffs in denmark. >> the reductions affect their research and development units. they're keeping their outlook from the statement from the copenhagen-based business this morning. this is the company who develops producers and markets, cynical products. we've spoken to them many times in diabetes products. >> we had a high-performance plastics industry hoping to save half a billion over the next few years. rip a cannot get growth cost out of the business. >> let's look at the futures once they tell us that where we are going to end up. as they go to the asian section, the weakness in the yen is helping to boost the japanese system or a. but the hang seng has gone kind of flat. that is not -- that is not being reflected. >> we are playing a little bit of catch-up game. the oil market rallied. is that a boom or a warning sign. and is a boon for a bit inflation
mario draghi says a year on from the cheating scandal that rocked the auto industry. good morning mrs. count in prime minister. manus cranny. >> they are planning to cut their workforce by 1000 employees. >> 500 layoffs in denmark. >> the reductions affect their research and development units. they're keeping their outlook from the statement from the copenhagen-based business this morning. this is the company who develops producers and markets, cynical products. we've spoken...
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Sep 12, 2016
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it started thursday, post mario draghi. why are we seeing selloff since thursday? marie: there is a lot of uncertainty coming into the markets this fall. the fed meeting next week and then the upcoming italian referendum and the u.s. election. .hose are all important events that is enough to perturb markets momentarily at least. mark: and bank of austin governor on friday said the u.s. economy -- bank of boston governor on friday said the u.s. economy could overheat. as to whenare you in the fed should tighten? we are hearing more hawkish rhetoric out of the fed officials in recent months. three: i think the fed really marie: iwo-way -- think the fed really wants a two-way market. statements tog put more uncertainty into the markets. the second, how to read the fed's tea leaves. what they has said in previous meetings is that they needed additional information before they would be comfortable to move. information that could confirm the economy is as strong as they think it is. that additional information has -- thatad of this information has not come ahead of this
it started thursday, post mario draghi. why are we seeing selloff since thursday? marie: there is a lot of uncertainty coming into the markets this fall. the fed meeting next week and then the upcoming italian referendum and the u.s. election. .hose are all important events that is enough to perturb markets momentarily at least. mark: and bank of austin governor on friday said the u.s. economy -- bank of boston governor on friday said the u.s. economy could overheat. as to whenare you in the...
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Sep 19, 2016
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mario draghi does nothing and you saw asset price response. the debate was happening in jackson hole. what is plan b? are there other things we can do? i think we have to be pressed on this issue and we have to start seeing answers. drops, it's helicopter buying equity, fiscal monetary coordination. this issue just has to be addressed. scarlet: we will talk more about the search for yield and near zero bound rate environment. it running us from london. this is bloomberg. ♪ scarlet: this is bloomberg markets. it's time for the bloomberg business flash. a look at the biggest stories in the news right now. and ontario-based startup that lets people use gestures instead of mouse or keyboard has scored a major funding round. they raised $120 million from amazon, intel, and others. an armband interprets electric signals and muscles to counteract or interact with computers hands-free. cole's place a higher more than 69,000 additional workers. the department store operator it expects most will be filled by the middle of november. several retailers a
mario draghi does nothing and you saw asset price response. the debate was happening in jackson hole. what is plan b? are there other things we can do? i think we have to be pressed on this issue and we have to start seeing answers. drops, it's helicopter buying equity, fiscal monetary coordination. this issue just has to be addressed. scarlet: we will talk more about the search for yield and near zero bound rate environment. it running us from london. this is bloomberg. ♪ scarlet: this is...
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Sep 14, 2016
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his address comes a day after mario draghi said internal divisions post a real danger in europe. they include the failure to complete the economic and monetary union. said joint action from leaders is essential if they want to regain support from citizens of the european union. some western nations calling for deeper integration whereas some governments, for example, poland and hungary, are pushing for less oversight from brussels. migration causing divisions among members of the block. there is an informal gathering on friday that is supposed to be a meeting in which they are going to map out a way forward, a roadmap of sorts for what happens after the u.k. leaves the european union. the question is whether they will be up to find common ground in these increasingly acrimonious environments. part of the issue is the u.k. itself has not formulated a plan. >> what we have to remember is there is a lot of politics behind this. it is coming ahead of the time when europe is going to have to negotiate with britain over the terms of the exit. both juncker and mario draghi are part of t
his address comes a day after mario draghi said internal divisions post a real danger in europe. they include the failure to complete the economic and monetary union. said joint action from leaders is essential if they want to regain support from citizens of the european union. some western nations calling for deeper integration whereas some governments, for example, poland and hungary, are pushing for less oversight from brussels. migration causing divisions among members of the block. there...
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Sep 5, 2016
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divided when more measures will be announced by mario draghi and his fellow policymakers. let's get to the bloomberg first word news desk today. nejra cehic has more. nejra: saudi arabia's oil minister says there is currently no need to freeze oil output. he spoke after signing an energy agreement with his russian counterpart. crude prices jumped 5%. there was speculation they would agree to cap output. president obama discussed syria, ukraine and private security in a meeting with sergio paz. -- with vladimir putin. president obama: vladimir putin , but typically, the tone of our meetings are , businesslike and this one was no different. nejra: the two did agree to forge ahead on reaching a cease-fire in syria. of china and japan also met today as tensions rise in the east china sea. she sinking engines oh oblique jingping and shinzo abe had a meeting. the drivers are frustrated the refugees tried to opt their vehicles so they could cross the english channel. global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. i'm nej
divided when more measures will be announced by mario draghi and his fellow policymakers. let's get to the bloomberg first word news desk today. nejra cehic has more. nejra: saudi arabia's oil minister says there is currently no need to freeze oil output. he spoke after signing an energy agreement with his russian counterpart. crude prices jumped 5%. there was speculation they would agree to cap output. president obama discussed syria, ukraine and private security in a meeting with sergio paz....
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Sep 5, 2016
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mario draghi -- what will he do on thursday? the weeks to come. this is bloomberg. ♪ guy: welcome back. let's break some data for you, this timeout of france. france has beat it services number. the survey was for a figure of the actual number has come through at 52.3. it's ahead of the competent number as well. that's the pmi data. let me take you to what's happening with the equity markets and break it down. this is what's happening. the large, red swath is uk's contribution to the stoxx 600, and as you can see, it's a little softer this morning. after a big rally friday, portugal, norway, and denmark are the risers, bringing up the rear of the tally. let's get to you some stock stories, ryan chilcote with the details. ryan: we want to get it off with two companies from continental europe leading the market, outperforming the market overall. up after itsis biggest intraday gain in four weeks after they said that the 22% will be purchased for 2.4 moving toros consolidate control over sfr. another big riser -- this swiss maker of financial softw
mario draghi -- what will he do on thursday? the weeks to come. this is bloomberg. ♪ guy: welcome back. let's break some data for you, this timeout of france. france has beat it services number. the survey was for a figure of the actual number has come through at 52.3. it's ahead of the competent number as well. that's the pmi data. let me take you to what's happening with the equity markets and break it down. this is what's happening. the large, red swath is uk's contribution to the stoxx...
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Sep 27, 2016
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mario draghi said the u.k. should not be granted any favors as it negotiates exit from the european union. he told eu lawmakers at such ruling is necessary to ensure the stability of the block. the u.k. government is still exploring his options to see if it will be able to retain access to the single market without accessing all of its commissions. of what emerges between the european union and the united kingdom, it is of utmost importance that the integrity of the single market is respected. any outcome should ensure that all participants are subject to the same rules. >> were the biggest names in hedge funds is calling it quits. richard. he is winding down his new york-based flagship after 28 years. in a letter to investors he said his style of working is no longer valid. over the first two decades he posted an average return of 15% without ever having a down year. however, his fund lost more than half its assets in the past year. says newly discovered data from a civilian radar station on the day of the mh
mario draghi said the u.k. should not be granted any favors as it negotiates exit from the european union. he told eu lawmakers at such ruling is necessary to ensure the stability of the block. the u.k. government is still exploring his options to see if it will be able to retain access to the single market without accessing all of its commissions. of what emerges between the european union and the united kingdom, it is of utmost importance that the integrity of the single market is respected....
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Sep 26, 2016
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mario draghi will visit brussels and berlin this week with the message that the government must act. the ecb president will testify today and address a session of -- too slowkers on to implement structural reforms. the turkish lira has fallen to a seven-week low after moody's cut the country's credit rating to junk. andited rising risks external financing needs. weakening credit fundamentals for its decision. in the wakee by s&p of july's failed coup. hillary clinton and donald trump will face each other in the first of three televised u.s. presidential debates later. the event will be held at hofstra university and will be moderated by lester holt. bloomberg has full coverage on that u.s. presidential debate. global news, 24 hours a day, powered by 2600 journalists and analysts in more than 120 countries. i am nejra cehic. this is bloomberg. francine: thank you. after a big week for global central banks, we start with comments from the boj speaking this morning. governor grow to says easing options desk governor kuroda says easing options include further negative rates. cooks the po
mario draghi will visit brussels and berlin this week with the message that the government must act. the ecb president will testify today and address a session of -- too slowkers on to implement structural reforms. the turkish lira has fallen to a seven-week low after moody's cut the country's credit rating to junk. andited rising risks external financing needs. weakening credit fundamentals for its decision. in the wakee by s&p of july's failed coup. hillary clinton and donald trump will...
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Sep 9, 2016
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catalysts of the big in the last couple of days has been the ecb and mario draghi saying policymakers have not discussed the meeting yesterday kicking off the selloff in bonds today. we are getting impressive news on bonds on the longer end of the curve. julie: for investors you were talking to and folks like gundlach, what are signs they are looking for that this will , or two, or week-log event, but longer-term and how we see bonds? he is it is interesting talking about bond yields, because in april 2015 he was talking about a selloff in german bonds. we saw the 10-year yield go from 100 basis points. now, how high we can get if we go now is the question. mark: we get so excited by moves like this, such is the nature of our job. we are at 0.002%. ofs this signal the waning influence of monetary policy ,ctivism, not only from the ecb but if you look at comments from mark carney and of the boj, are in theessing a change activist approach by central banks? david: it might be too early to call that. we are getting excited about the 10 year yield and 0%, it is unheard of terri back five
catalysts of the big in the last couple of days has been the ecb and mario draghi saying policymakers have not discussed the meeting yesterday kicking off the selloff in bonds today. we are getting impressive news on bonds on the longer end of the curve. julie: for investors you were talking to and folks like gundlach, what are signs they are looking for that this will , or two, or week-log event, but longer-term and how we see bonds? he is it is interesting talking about bond yields, because...
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Sep 9, 2016
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i think mario draghi is absolutely right. keeping the options open but with the eurozone economy growing somewhat, there is no need for more central-bank action at the moment. markets better get used to the notion that central banks are not in the business of pushing growth above trend. francine: the mandate of the ecb is to push inflation up. can they at least do that? do they need to do more to it that 2% target? holger: in today's world, hitting inflation targets has become more difficult. more importantly, they are not in the business of doing that short term. inflation expectations are not too far away from the central banks target, and most importantly, there is no sign of dangerous deflation hitting. in a situation where central banks have done a lot already, it is best now for the ecb to wait and see how its aggressive easing works overtime instead of saying after half a year already , it doesn't seem to be enough. francine: we also heard from jeffrey gundlach, saying that now is time to get defensive as rates may ris
i think mario draghi is absolutely right. keeping the options open but with the eurozone economy growing somewhat, there is no need for more central-bank action at the moment. markets better get used to the notion that central banks are not in the business of pushing growth above trend. francine: the mandate of the ecb is to push inflation up. can they at least do that? do they need to do more to it that 2% target? holger: in today's world, hitting inflation targets has become more difficult....
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Sep 7, 2016
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plenty coming up including a rare moment of calm from mario draghi. it hit the meeting, step markets -- stock markets at their most tranquil. how much will draghi deliver this time around? and new passport for britain. -- he may have to move 30% of the banks london jobs to elsewhere in the region. plus, new phone. tim cook is expected to launch the iphone seven amidst falling sales. time to panic? we talk apple. we will also hear the government of sweden's riksbank. that is coming up next. . ♪ francine: this is the pulse. i am francine lacqua in london. let's get to bloomberg business flash with nejra cehic. nejra: apple will hold a keynote event tonight where they are expected to introduce a new line of products including the iphone seven. a modest upgrade. the latest edition of the iphone operating system. the new handset will not do enough to withstand apple's declining topline growth. the owner of water for story is -- switching strategies from chasing deals to incorporating the companies it bought. it has become assets and the -- in the u.s., a
plenty coming up including a rare moment of calm from mario draghi. it hit the meeting, step markets -- stock markets at their most tranquil. how much will draghi deliver this time around? and new passport for britain. -- he may have to move 30% of the banks london jobs to elsewhere in the region. plus, new phone. tim cook is expected to launch the iphone seven amidst falling sales. time to panic? we talk apple. we will also hear the government of sweden's riksbank. that is coming up next. ....
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Sep 29, 2016
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mario draghi, the ecb president, is being asked about this in his trip to berlin. it was a trip where he was going to face a lot of questions about interest rates and monitoring policy -- is it working? he talked about this as well, of course, and he did say that he does not share the views of the ecb low interest rates being partly to blame for the problems lenders are currently facing. he says if a bank represents a systemic threat to the eurozone, it can't be because of low interest rates. it has to do with other reasons. also, with emulation to deutsche bank, the german leader -- german lender is trying to sell in a chinese lender. they decided in december they would sell their state. they are trying to get the money out of the country, and it seems like some of the chinese regulations that are designed to protect the stability of the currency could be slowing the process down for deutsche bank. and of course, we all know why they want to pull out. they are selling u.k. assets to shore up their balance sheet. angie? angie: anna, thanks. we are watching saudi ar
mario draghi, the ecb president, is being asked about this in his trip to berlin. it was a trip where he was going to face a lot of questions about interest rates and monitoring policy -- is it working? he talked about this as well, of course, and he did say that he does not share the views of the ecb low interest rates being partly to blame for the problems lenders are currently facing. he says if a bank represents a systemic threat to the eurozone, it can't be because of low interest rates....
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Sep 5, 2016
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mark carney faces british lawmakers and what can mario draghi deliver on thursday? we get pmi data
mark carney faces british lawmakers and what can mario draghi deliver on thursday? we get pmi data
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Sep 29, 2016
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. >> i personally thought mario draghi was more hawkish. there was no discussion of lowering qe or forecasts, and he was fairly defensive of his underlying strategy. cthink we are just on the usp -- if you look at the regression. francine: this is the hallelujah moment, right? but what do you do in fiscal policy? we have been talking about it. you can't build that many roads, and that wouldn't take 15 years to see benefits from. >> if you just look at the politicians, at kuroda, traditional railways, trump and clinton talking about big fiscal atgrams, we could be sitting this desk in the years time and wondering why didn't we see it. francine: because it, but we can also be looking at the u.s. and the u.k. having to renegotiate trade agreements. we could be in a recession the year from now, can we not? >> i think what we all know is monetary policy is the tired engine and is showing it. francine: thank you. case forthe hawkish the fed. the s&p bull market nears its eighth year. so how solid is the u.s. economy? this is bloomberg. ♪ . . â™
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Sep 7, 2016
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huge gain after mario made an appearance with the iphone. scarlet: super mario, not mario draghi. joe: and apparently -- matt: and apparently pokemon is going to go on the watch. i don't know how that is a selling point anymore. but talking about the late day rally, it finishes up 7/10 of 1%. >> pretty quiet day on the government bond market front. we got joel switch, not really intending to move markets, rarely market moving, they were fine, but as you can see, hardly any action. terms of currency, the pound was at a one-week high versus the dollar, but then mark carney testified that he and other bank of england officials basically signaled that more easing is likely if the economy turns south with data today that they can't hold prices to manufacturing output declines, declining and off by 8.3% over the past three months. another one that i'm focusing on today, strengthening the most in a month, the intraday performance. i should say, the dollar weakened by 1.4% versus the one. n. wo the next support level according to strategists is 1089.90. we will keep an eye on that as peop
huge gain after mario made an appearance with the iphone. scarlet: super mario, not mario draghi. joe: and apparently -- matt: and apparently pokemon is going to go on the watch. i don't know how that is a selling point anymore. but talking about the late day rally, it finishes up 7/10 of 1%. >> pretty quiet day on the government bond market front. we got joel switch, not really intending to move markets, rarely market moving, they were fine, but as you can see, hardly any action. terms...